Chapter 13
Helping people file for Chapter 13 and Chapter 13 Bankruptcy
What is Chapter 13 Bankruptcy?
Chapter 13 Bankruptcy is a federal court process that allows consumers to repay their debts to creditors over the course of 3 to 5 years. In order for people to file for Chapter 13, they must prove that they have sufficient monthly income to repay creditors. Additionally, they must complete credit counseling 180 days prior to filing their bankruptcy paperwork.
Why do people file for Chapter 13?
Sometimes, people fall behind on their bills and simply need time to catch up. Other times, people may find that because they are behind on their payments to creditors, they may lose their homes through foreclosure or their vehicles through repossession. In order to avoid such extremes, people may decide to file for Chapter 13, which will allow them to repay their debts, but at a rate they can afford and over a set span of time.
What happens after people file for Chapter 13?
After people file their Chapter 13 paperwork, a trustee will be appointed by one of the U.S. bankruptcy courts. The trustee will work with people and their creditors to establish a mutually agreed upon repayment plan and also a timeframe in which debts must be repaid. This plan will then be approved of by the court and shortly after, people will begin making monthly payments until their debts are repaid in full.
Do I need an attorney to file for Chapter 13?
People who are filing for Chapter 13 Bankruptcy should always work with an attorney who can negotiate on their behalf so that their repayments plans are affordable and feasible on a long-term basis.
Las Vegas Chapter 13 Bankruptcy Lawyers
At The Las Vegas Bankruptcy Law Firm we will do everything we can to provide you with personal attention throughout the bankruptcy process. Contact us today to learn how our Las Vegas Chapter 13 Bankruptcy lawyers can make a positive difference in your case!
The Las Vegas Bankruptcy Law Firm represents individuals who wish to file for bankruptcy in Las Vegas, Nevada.